Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    128 15th St Faribault, MN 55021

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Warehouse space with loading docks and office in Faribault.

    Type:Commercial/Industrial
    Property size:
    30,000 SF
    Added:
    Mar 11, 2026
    Days on Market:
    22
    Last Refresh:
    Mar 26 at 10:18 pm

    Property Features for 128 15th St

    General Information

    Standard status
    Active
    Size
    30,000 SF
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Matthew J. Steeves

    Listing agent Matthew J. Steeves

    Listing office MDC Real Estate Services

    Listing date Mar 11, 2026

    Source Exitrealty

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of MDC Real Estate Services

    Overview

    Faribault Warehouse with Office Space

    This property offers over 30,000 square feet of warehouse space available for lease. The warehouse includes multiple loading docks and drive-in doors. Office space is also available within the property. The CAM charges are currently an additional $1.85, which includes utilities.
    Location Intelligence

    Current Use by Public Records

    Faribault Foods Warehouse ... Food Processing Plant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • K C Mini Storage — 1320 2nd Ave NW, Faribault, MN 55021
    • Old Laundry Building — 615 Olof Hanson Dr, Faribault, MN 55021

    Location Insight

    • Map
    • Local Demand
    City
    Faribault
    County
    Rice
    State
    Minnesota
    Longitude
    -93.2709
    Latitude
    44.307

    Nearby Similar for Sale

    • $319,000

      Mixed-Use Building in Downtown Faribault

      Prime mixed-use property in up-and-coming downtown Faribault, Minnesota.
      12 3rd Street NE, Faribault, MN 55021
      View Details
    • $525,000

      Mixed-Use Investment Opportunity in Faribault

      Mixed-use property in downtown Faribault, near Twin Cities.
      301 Central, Faribault, MN 55021
      View Details
    • $549,900
      11,000 SF

      Historic Faribault Commercial Building

      Historic 11,000+ sq ft building near downtown Faribault, MN.
      222 3rd NW Avenue, Faribault, MN 55021
      View Details
    • $299,000

      Iconic Corner Building on Central Avenue

      Historic downtown building with retail and residential potential.
      329 Central Avenue N, Faribault, MN 55021
      View Details
    • $260,000

      Iconic Downtown Building: Blank Slate

      Historic downtown building with storefront and residential income potential.
      313 Central Avenue N, Faribault, MN 55021
      View Details
    • $549,900

      Historic Commercial Building in Faribault

      Historic 11,000+ sq ft commercial building near downtown Faribault, MN.
      222 3rd Avenue NW, Faribault, MN 55021
      View Details
    • $5
      88,003 SF

      Prime Office, Retail, Flex Space

      Up to 23,000 SF of flexible commercial space available.
      201 Lyndale S Avenue, Faribault, MN 55021
      View Details
    • $174,900
      1,200 SF

      Unique Commercial Building with Vault

      Commercial building featuring a vault, security system, and 3-phase electric.
      739 Willow Street, Faribault, MN 55021
      View Details
    • Contact for pricing
      5,625 SF

      Freestanding Building Near Highway 60

      Free-standing building off Lyndale Avenue and Highway 60 in Faribault.
      1233 Hwy 60, Faribault, MN
      View Details
    • $1,600,000
      5,625 SF

      Free-Standing Building on Highway 60

      Free-standing building off Lyndale Avenue and Highway 60.
      1233 MN-60, Faribault, MN 55021
      View Details

    FAQs

    What type of property is this?
    Warehouse - Warehouse space with loading docks and office in Faribault.
    Where is this warehouse located?
    The property is located at 128 15th St Faribault, MN.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: 30,000 SF + of warehouse space; Multiple loading docks for efficient operations; Drive‑in doors provide easy access
    (507) 333-1152
    We can help!
    Listing Contact
    Matthew J. Steeves
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!